Answered: How long would it take R20000 invested…

How long would it take R20000 invested today at a simple interest rate of 9% p.a. to reach an investment goal of R30000. A Approximately 5.6 years B Approximately

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter7: Exponents And Exponential Functions

Section7.7: Writing Exponential Functions

Problem 31HP

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Question

How long would it take R20000 invested today at a simple interest rate of 9% p.a. to reach an investment goal of R30000.
A Approximately 5.6 years
B Approximately 6.1 years
C Approximately 4.7 years
D Approximately 5.1 years

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